Punjab Government has reduced VAT on milk when purchased for manufacturing taxable goods and on wheat when purchased for processing, from 6.05% to 3.3% (after adding surcharge of 10%). Wheat not to be used for processing purpose will continue to attract VAT @ 6.05%. Relevant notification is produced herebelow:
PUNJAB GOVT. GAZ. (EXTRA),
JANUARY 29, 2014 193
(MAGHA 9, 1935 SAKA)
GOVERNMENT OF PUNJAB
DEPARTMENT OF
EXCISE AND TAXATION (EXCISE AND TAXATION II BRANCH)
NOTIFICATION
The 25th January, 2014
No. S.O.
10/P.A.8/2005/S.8/2014.-Whereas
the State Government is satisfied that
circumstances exist, which render
it necessary to take immediate action in public interest;
Now, therefore,
in exercise of the powers conferred by sub-section (3) of section 8 of the
Punjab Value Added Tax Act, 2005 (Punjab Act No. 8 of 2005), and all other
powers enabling
him in this behalf, the Governor of Punjab is pleased to make
the following amendment in
Schedule ‘B’ and Schedule ‘E’, appended to the said
Act, with immediate effect, by
dispensing with the condition of previous
notice, namely:-
AMENDMENT
1.
In the
Schedule ‘B’, - (i) in entry at Sr. No. 162, after the word “Wheat”, the words
and
bracket (not to be used for processing purpose) shall be inserted.
(ii) Sr. No. 71 and entry relating thereto shall
be omitted.
2.
In the
Schedule ‘E’, after Serial No. 22, the following entries shall be added,
namely:-
|
“23
|
Milk, when purchased for manufacture of
taxable goods
|
3%
|
|
24
|
Wheat, when purchased for processing”
|
3%
|
D.P.REDDY,
Financial
Commissioner Taxation and
Secretary
to Government of Punjab,
Department
of Excise and Taxation.
421/01-2014/Pb.
Govt. Press, S.A.S. Nagar
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